Customers Are Paying Over $40,000 on Average for GM’s Luxury Trucks
As the luxury truck segment rapidly grows, so too does the average transaction price for these vehicles
Last month, The News Wheel reported that GM’s lineup of luxury trucks was boosting the brand’s average transaction prices. Still, it wasn’t yet revealed how much people were paying for these pickups.
New data illustrates exactly how much the average customer is willing to pay for GM’s luxury pickup trucks. For the 2019 Silverado, that price is $41,700. For the Sierra, the price is even higher: $48,500.
A Full Listing of GMC Pickups: 2019 GMC truck lineup
These numbers come straight from Barry Engle, the GM President of the Americas. According to Engle, these new transaction prices are precisely where GM predicted they would be.
For the Silverado, the average transaction price is $3,000 higher than a year ago. The disparity is even greater for the GMC Sierra, where prices are up by $4,300 year-over-year.
What’s more, the 2019 GMC Sierra is leading the full-size pickup truck segment in terms of price tags. Customers are paying $5,500 more on average for the Sierra than they are paying for the Ford F-150.
How the Sierra Stacks Up Compared to the Competition: 2019 GMC Sierra 1500 vs. 2019 Ford F-150
The Silverado is close behind in third place, as the average transaction price for the Ford F-150 is $4,300. The average transaction price for the Ram line of trucks settles right at $39,700, the lowest transaction price for the segment.
At the moment, drivers are abandoning sedans for trucks as their luxury vehicles of choice. This has caused the average price for a truck to greatly increase in recent years. While customers can undoubtedly still find an affordable pickup out on the market, the number of high-end trucks on the road is only set to increase from here on out.
News Source: Automotive News (subscription required)